When all of the parties interested in the property involved in condemnation proceedings fail to appear within the time set by this chapter, the court may proceed to fix the amount of compensation by arbitration, as provided for in this chapter, and also determine the ownership of the property. Such award and determination shall be as effective as though the parties had appeared and answered. Any sums ordered to be paid by the government shall be held by the government for 7 years, to be paid to the proper claimant on demand. Such sums shall bear no interest.